China Re Group has donated 10 million yuan (USD1.43 million) along with its 5 subsidiaries, and provided medical supplies and multibillion-yuan insurance coverage to help fight the novel coronavirus-related pneumonia.
Since the outbreak, under the guidance of the central government and relevant administrations, China Re Group has responded proactively to provide timely assistance for affected regions.
On January 28, the entire Group system donated 10 million yuan to the Hubei Charity Federation, showing sincere support to Hubei province, the epicenter of the disease.
In addition, China Re’s subsidiaries have acted accordingly to help overcome the impact of the coronavirus.
China Re’s primary insurance segment, China Continent Insurance (CCIC), sent 300,000 masks and other materials for epidemic prevention including disinfectants and protective clothing to Wuhan, Hubei province.
CCIC also donated a total of 5-billion-yuan insurance coverage to traffic police officers in Hubei province and Shanghai, and frontline news reporters. In the company’s insurance donation to 1,200 Shanghai traffic police officers, a 500,000-yuan compensation and a 100,000-yuan compensation will be given respectively for each coronavirus-affected death and accidental injury.
At this critical moment, China Re’s P&C and Life Reinsurance sectors immediately launched contingency work systems, offering insurance companies fast and direct access for disease-related claims and settlements, lifting restrictions on special claims for specific medicines, hospitals and diagnosis and treatment services.
The virus outbreak calls for concerted efforts on disease prevention and controlling. China Re will continue to perform its reinsurance functions, and give all-out supports to overcome the virus. The company will firmly implement the central government’s deployments and requirements, and shoulder its responsibilities as a national reinsurer, to help win the fight against the epidemic.